Ad #7849207
MLS #791536
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR
Panama City, FL 32401
$724,000
--Beds
--Baths
5,222Sqft
0.41Acres
About this property
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR RATE BUYDOWN! Welcome to 119 College Avenue, an exceptional income-producing property featuring six rental units in a well-maintained, recently remodeled setting, currently generating approximately $83,460 in gross annual income. Situated on a spacious 0.4-acre corner lot in Flood Zone X (no flood insurance required), the property consists of four total buildings, all with newer 30-year dimensional shingle roofs installed in 2019. The primary residence has been fully renovated down to the studs and rebuilt with quality finishes throughout, offering three separate rental units (Units 1, 2, and 3) totaling 8 bedrooms and 5 bathrooms, along with a welcoming front porch, three new HVAC systems, and updated kitchens with new appliances. Unit 1 is a 3-bedroom, 2-bath upstairs unit rented for $1,290/month, featuring a private entrance to the primary suite, oversized laundry room, new LVP flooring, updated kitchen and baths, and two living areas. Unit 2 is a 3-bedroom, 2-bath downstairs unit rented for $1,450/month, offering a split floor plan, spacious living area, and new LVP flooring throughout. Unit 3 is a 2-bedroom, 1-bath rear apartment rented for $1,000/month. In addition to the main house, the property includes three detached single-family homes: Unit 7, a 3-bedroom, 2-bath unit with a utility/storage area rented for $1,100/month; Unit 5, a 2-bedroom, 1-bath unit rented for $990/month; and Unit 6, a 2-bedroom, 1-bath unit rented for $1,125/month and extensively remodeled. Altogether, the property offers 15 bedrooms and 9 bathrooms across six income-producing units. All rentals are professionally managed by ERA Property Management, making this a seamless, turnkey investment opportunity. Floor plans are available in the Documents section and photo gallery. Schedule your private showing today to explore the full potential of this multi-unit property.
Property Features
0 Beds
0 Baths
5,222 Sqft
Built in 1936
0.41 Acres
Siding: VinylSiding
Shingle Roof
Electric (Heating), Central
Bay County
[No Recorded Subdiv] Community
Additional Photos
Contact Information
Kaci A Hawes
Neubauer Real Estate, Inc. ERA
850-628-4537
Location
Listing Agent: Kaci A Hawes (License #: SL3441260) 850-628-4537
Broker: Neubauer Real Estate, Inc. ERA 850-785-1551 Listing Site
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Neubauer Real Estate, Inc. ERA 850-785-1551 Listing Site
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Aug 11, 2026
Photo Gallery
$724,000
--
Beds
--
Baths
5,222
Sqft
Panama City, FL 32401
By contacting this agent you agree to these Terms and Conditions.
MLS# 791536
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR
$724,000
Panama City, FL 32401
--
Beds
--
Baths
5,222
Sqft
0.41
Acres
$724,000
Panama City, FL 32401
-- Beds
-- Baths
5,222 Sqft
0.41 Acres
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR RATE BUYDOWN! Welcome to 119 College Avenue, an exceptional income-producing property featuring six rental units in a well-maintained, recently remodeled setting, currently generating approximately $83,460 in gross annual income. Situated on a spacious 0.4-acre corner lot in Flood Zone X (no flood insurance required), the property consists of four total buildings, all with newer 30-year dimensional shingle roofs installed in 2019. The primary residence has been fully renovated down to the studs and rebuilt with quality finishes throughout, offering three separate rental units (Units 1, 2, and 3) totaling 8 bedrooms and 5 bathrooms, along with a welcoming front porch, three new HVAC systems, and updated kitchens with new appliances. Unit 1 is a 3-bedroom, 2-bath upstairs unit rented for $1,290/month, featuring a private entrance to the primary suite, oversized laundry room, new LVP flooring, updated kitchen and baths, and two living areas. Unit 2 is a 3-bedroom, 2-bath downstairs unit rented for $1,450/month, offering a split floor plan, spacious living area, and new LVP flooring throughout. Unit 3 is a 2-bedroom, 1-bath rear apartment rented for $1,000/month. In addition to the main house, the property includes three detached single-family homes: Unit 7, a 3-bedroom, 2-bath unit with a utility/storage area rented for $1,100/month; Unit 5, a 2-bedroom, 1-bath unit rented for $990/month; and Unit 6, a 2-bedroom, 1-bath unit rented for $1,125/month and extensively remodeled. Altogether, the property offers 15 bedrooms and 9 bathrooms across six income-producing units. All rentals are professionally managed by ERA Property Management, making this a seamless, turnkey investment opportunity. Floor plans are available in the Documents section and photo gallery. Schedule your private showing today to explore the full potential of this multi-unit property.
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Property Details
HOME DETAILS
0 Beds
0 Baths
5,222 Sqft
Built in 1936
0.41 Acres
EXTERIOR
Siding: VinylSiding
Shingle Roof
INTERIOR
Electric (Heating), Central
FINANCIAL & COMMUNITY
Bay County
[No Recorded Subdiv] Community
See More Details
Location
Mortgage Calculator
Ad Statistics
Ad Number
7849207
Viewed
48 times
Listing Status
Active
Added
Jun 18, 2026
Last Refreshed
Jul 03, 2026 06:17:28 PM
Listing Information
Data Source
Central Panhandle Association of REALTORS
Source Property ID
791536
Listing Agent: Kaci A Hawes (License #: SL3441260) 850-628-4537
Broker: Neubauer Real Estate, Inc. ERA 850-785-1551 Listing Site
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Neubauer Real Estate, Inc. ERA 850-785-1551 Listing Site
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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